Trade Balance in Nigeria

Nigeria Trade Balance | Economic News & Forecasts

Nigeria - Trade Balance

The already challenging environment has become more difficult in recent weeks. Following a second quarter in which oil output eased according to OPEC statistics, and credit and money supply growth slowed notably, conditions have seemingly deteriorated further in Q3. Lockdown measures remained in place through July, while the security situation worsened in August amid kidnappings by armed bandits and attacks on Muslim travelers by Christian militia, likely due to land rights issues. Furthermore, public sector doctors launched an indefinite strike on 2 August amid dissatisfaction with the government. That said, the private sector PMI rose to an 18-month high in July, suggesting that business activity firmed at the outset of Q3 despite the many challenges. In addition, the country received 4 million Moderna jabs from the U.S. in early August, which should help the vaccination drive.

Nigeria - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)-6.4  -0.5  13.1  20.5  2.9  

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Note: Trade balance in USD bn.
Source: Central Bank of Nigeria

Nigeria Facts

Value Change Date
Bond Yield11.100.0 %Dec 31
Exchange Rate306.53.08 %Jan 01
Stock Market0.10.0 %Jan 07

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